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Table Talk with Mr. Andreas Szakacs

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“You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.” Become more valuable. Do more. Give more. Be more. Serve more. Mr. Andreas Szakacs from Sweden preached the same philosophy and today stands on top of his game. He started his financial career around 2014 and today, he is the CEO of a FOREX trading platform, a Bank owner, a Venture Capitalist and an enthusiastic traveller.

He has worked extensively with European financial institutions and triumphed in delivering financial advising to East European companies. His intensive experience working with European customers has given Mr. Szakacs a unique vantage point when it comes to figuring out the primary challenges that customers face while transferring money from one country to another. Under his leadership and mentorship, several start-up banks and financial institutions have been able to turn a seemingly impossible idea into a tangible banking system that benefits people around the globe, including developing nations. He is also an avid financial investor in companies from the East European market. Today, we are here to recognize the real man inside the Financial Industry Veteran we all know. Our heartiest indebtedness to Mr. Szakacs for responding to our questions.

What accounts as your biggest accomplishment and what is your prime short-term goal?

I would account Omega Pro via which we helped 1000k people in the financial world. My target is to hit a million satisfied clients by the end of 2021.

What do you consider as your best characteristics?

I know I can be the hardest working person in the room, very patient, and marvelously ambitious.

Are you more inclined to “build your own empire” or unleash the potential of others?

I would unleash the potential of others to help me build my own empire. I appreciate aura, communication skills and presentability of a person more than anything.

Who is your idol in the business field and the supreme teaching you follow?

Mr. Jack Ma, the founder of Ali Baba is my idol. I preach his thought – “No matter how tough the chase is, you should always have the dream you saw on the first day. It’ll keep you

motivated and rescue you”.

If you could change one thing about the world, regardless of guilt or politics, what would you do?

I will turn the globe towards world peace and eradicating poverty. I help organisations like My Big Day and The Fan Foundation to give back to the society.

Would you rather have exceptional wealth or exceptional intelligence?

I would choose exceptional intelligence. I know I can acquire the other with it.

Who is your favourite actor and actress?

I’m a huge fan of the sitcom FRIENDS. My favourite actress is Jennifer Aniston and I love the versatility of Matthew McConaughey.

What is something most people don’t know about you?

I’m ex-military personnel and I have worked as a store manager.

What are your avocations besides work?

 I am an avid traveller and I have visited 40+ countries. I enjoy experiencing different cultures and cuisines. I play polo and cherish long drives. Swimming and diving replenish me.

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

Business Strategies of Michael Gastauer

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Michael Gastauer, a German billionaire and entrepreneur, has led Black Banx to remarkable heights with his innovative strategies in the digital banking sector. As the founder and CEO, his vision has transformed Black Banx into a significant player in the global financial industry, serving millions and revolutionizing banking practices. 

Gastauer’s approach has been distinctly customer-centric, focusing on solving real-world problems through accessible financial services. This strategy has not only captured a vast market share but also established Black Banx as a model of innovative fintech success.

Innovate Early and Often, Invest Strategically

Gastauer’s journey began with a robust foundation in the fintech sector, where he initially created and later sold a payment services company for US$480 million. 

This significant capital boost allowed him to invest in his next venture: Black Banx. Launched in 2014, Black Banx differentiated itself by offering real-time account opening and cross-border payment solutions to a global audience, addressing major inefficiencies in traditional banking. 

Gastauer’s foresight in identifying and investing in these key areas early on allowed Black Banx to scale quickly and efficiently. His strategy was clear: leverage high initial investment to accelerate growth and secure a substantial market presence before competitors could catch up.

Within a year of its inception, Black Banx expanded rapidly, reaching over 1 million customers. This was just the beginning, as the platform soon integrated cryptocurrency options, enhancing its appeal and utility for a broader client base. By the end of 2018, Black Banx was valued at US$9.8 billion, a testament to its rapid growth and the successful implementation of its business model. 

Gastauer’s bold move to integrate cryptocurrencies early in the game positioned Black Banx as a pioneering force in fintech, well ahead of traditional banks.

Pinpoint Problems and/or Challenges

One of the core components of Gastauer’s strategy was to tackle financial exclusion head-on. Black Banx made significant strides in offering banking solutions to the unbanked and underbanked, particularly in regions with limited access to traditional banking services. 

By leveraging technology and strategic partnerships with mobile network operators, Black Banx has been able to extend its reach and offer innovative banking solutions to millions worldwide. This strategic alignment with mobile operators has been crucial, as it taps into an existing infrastructure to reach remote areas, significantly lowering the cost of expansion.

The platform’s ability to facilitate quick, cost-effective international money transfers has been a game-changer, particularly in markets like the Middle East, Asia, and Africa. This not only supports individuals and businesses in these regions but also contributes to the overall growth and stability of the global economy. 

Gastauer’s focus on simplifying and reducing the cost of these transactions demonstrates a deep understanding of the core needs of his customers, thereby enhancing customer loyalty and trust in the brand.

Take a Tech-Driven Approach

Under Gastauer’s leadership, Black Banx has remained at the forefront of technological integration within the banking sector. The adoption of blockchain, AI, and data analytics has enabled the platform to offer personalized financial services, enhancing customer experience and satisfaction. 

This technology-driven approach ensures that Black Banx stays ahead of industry trends and continues to offer relevant and secure banking options. Gastauer’s commitment to integrating advanced technology not only streamlines operations but also provides a scalable model that supports continuous growth and adaptation in a rapidly evolving market.

Leave No Market Unturned

Gastauer’s vision for Black Banx was never limited to a single region. By 2023, the company had expanded its services to include 28 FIAT and two cryptocurrencies, with a robust presence in over 180 countries. This global approach has not only diversified the company’s customer base but also minimized regional economic risks, allowing Black Banx to thrive in a competitive and fast-changing financial landscape. 

The strategic decision to operate across diverse markets also mitigates the risk of localized economic downturns affecting the overall health of the company.

Set Milestones

The year 2023 was a landmark year for Black Banx, as it reached 39 million customers and reported revenues of US$2.3 billion. The company’s ability to maintain a high rate of customer acquisition and satisfaction speaks volumes about its effective strategies and customer-focused approach. 

The first quarter of 2024 continued this trend, with Black Banx announcing a pre-tax profit of US$639 million and revenues of US$2.1 billion, driven by strategic implementations like fixed monthly account maintenance fees. Gastauer’s strategy to introduce fixed fees was a calculated risk that paid off, providing stable revenue streams and further solidifying Black Banx’s financial foundation.

Michael Gastauer’s strategic foresight and relentless innovation have propelled Black Banx to new heights, making it a leader in the digital banking sector. His commitment to financial inclusion, coupled with an aggressive expansion strategy and technological integration, has not only shaped the future of Black Banx but has also set a new standard in the industry. 

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